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Findings Presented at ACC.24 Showed XARELTO® (rivaroxaban) Reduced the Risk of Clinically Significant Bleeding and Net Adverse Clinical Events or Rehospitalization

Retrieved on:

Monday, April 8, 2024

NEW BRUNSWICK, N.J., April 8, 2024 /PRNewswire/ -- Johnson & Johnson announced today a new analysis of data from the PIONEER AF-PCI clinical trial demonstrating that XARELTO® (rivaroxaban) was associated with a reduced risk of clinically significant bleeding (CSB), and net adverse clinical events (NACE; a composite of clinically significant bleeding [CSB] or major adverse cardiovascular event [MACE]) or rehospitalization compared to warfarin among both elderly and non-elderly patients with nonvalvular atrial fibrillation (AF) undergoing percutaneous coronary intervention (PCI), a nonsurgical procedure designed to relieve narrowing or occlusion of the coronary artery.1,2 These data were featured in an oral presentation today at the American College of Cardiology 73rd Annual Scientific Session & Expo (ACC.24) in Atlanta, Georgia (Abstract #906-04).

Key Points:

"Despite advances in cardiovascular care, patients with nonvalvular AF continue to be at risk of potentially life-threatening cardiovascular events, especially older patients considered difficult to treat due to multiple factors, including age and co-morbidities," said C. Michael Gibson*, M.D., CEO, of the nonprofit Baim Institute and professor of Medicine, Harvard Medical School.
"A significant challenge in managing nonvalvular AF in older individuals undergoing PCI is determining a treatment that balances the prevention of stroke with the risk for bleeding.
Results from the PIONEER AF-PCI trial reinforce the need to continue to research this complex and fragile elderly patient population."
"With this new exploratory analysis at ACC.24, we're pleased to bring the latest research to healthcare providers that adds to the growing body of clinical evidence in older adults."

Cambridge Savings Bank Supports the Expansion of Fair Haven Community Health Care with Loans Totaling Over $26 Million

Retrieved on:

Thursday, April 4, 2024

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Corporate Banking team has provided Fair Haven Community Health Care (Fair Haven CHC) with a combined $26.1 million in loans to support its expansion.

Key Points:

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Corporate Banking team has provided Fair Haven Community Health Care (Fair Haven CHC) with a combined $26.1 million in loans to support its expansion.
Based in New Haven, Connecticut, Fair Haven CHC provides low-income families with accessible, high-quality medical and dental care, regardless of their ability to pay.
With 20 locations including 12 satellite centers at local greater New Haven schools, Fair Haven CHC currently serves over 34,000 patients across a wide range of primary and specialty care services.
“Cambridge Savings Bank's community-focused approach and clear understanding of our mission have made the bank an invaluable ally in our expansion efforts.

Cambridge Savings Bank Provides Stauer With a $10.5 Million Credit Facility to Facilitate Future Growth

Retrieved on:

Thursday, March 21, 2024

Professional Services, Online Retail, Retail, Jewelry, Luxury, Finance, Banking, Savings bank, Growth, CSB, Senior, Treasury management, ABL, Jewellery, Bank

Stauer will leverage the financing to repay its outstanding revolver and term loan balance, finance ongoing working capital needs, and support daily operations.

Key Points:

Stauer will leverage the financing to repay its outstanding revolver and term loan balance, finance ongoing working capital needs, and support daily operations.
“Cambridge Savings Bank stood out to us in our search for lending solutions because they employ the same customer-centric approach to everything that they do.
The bank has already played a crucial role in helping the online retailer with a flexible lending package that allows for future growth.
“At Cambridge Savings Bank, we strive to foster genuine relationships with each individual and business that we serve,” added Yvonne Kizner , Senior Vice President, Asset-Based Lending at CSB.

CoastalSouth Bancshares, Inc. and Coastal States Bank Announce Changes to Boards of Directors

Retrieved on:

Monday, March 18, 2024

Acquisition, Private equity, HEAD, Bar association, Hospital, Knowledge, LLP, CSB, COSO, University, Doctor of Philosophy, Gee, Partnership, Management

HILTON HEAD ISLAND, S.C., March 18, 2024 /PRNewswire/ -- CoastalSouth Bancshares, Inc. ("COSO") and its wholly-owned subsidiary, Coastal States Bank ("CSB"), announced today that Mr. Ping Lee, PhD is stepping down as a member of their Boards of Directors.

Key Points:

HILTON HEAD ISLAND, S.C., March 18, 2024 /PRNewswire/ -- CoastalSouth Bancshares, Inc. ("COSO") and its wholly-owned subsidiary, Coastal States Bank ("CSB"), announced today that Mr. Ping Lee, PhD is stepping down as a member of their Boards of Directors.
"Ping was an excellent representative for former Cornerstone shareholders, as well a strong financial steward for all COSO shareholders."
The Boards of Directors of COSO and CSB also announced today that Mr. John G. Aldridge, Jr. ("Gee") has been appointed to serve as a member of both Boards of Directors.
"I am very pleased to announce that Gee has joined our Board of Directors," said Stephen Stone, President and CEO of COSO and CSB.

Cambridge Savings Bank Leads $45M Participation Loan for Modera Wealth Management, LLC’s Transaction with Parsec Financial Management, Inc.

Retrieved on:

Thursday, February 22, 2024

Banking, Professional Services, Finance, Savings bank, CSB, Growth, Treasury management, Attention, RIAS, Parsec, Partnership, Financial services

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it was the lead bank in a $45 million participation loan for Modera Wealth Management, LLC (Modera)’s transaction with Parsec Financial Management, Inc (Parsec).

Key Points:

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it was the lead bank in a $45 million participation loan for Modera Wealth Management, LLC (Modera)’s transaction with Parsec Financial Management, Inc (Parsec).
Modera oversees more than $11.4 billion in assets as of October 1, 2023 with more than 190 employees, including 83 Certified Financial Planners®, across 16 offices.
“Our partnership with Cambridge Savings Bank has been instrumental during this period of strategic growth,” said Orecchio.
Following this transaction, Modera has continued to operate as an independent entity, maintaining majority ownership and control by its employees.

Tyler Featherston joins Coastal States Bank's Government Guaranteed Lending Team

Retrieved on:

Wednesday, February 28, 2024

CSB, HEAD, GGL, Government, SBA, Business development

HILTON HEAD ISLAND, S.C., Feb. 28, 2024 /PRNewswire/ -- Coastal States Bank ("CSB") has announced that Tyler Featherston has joined its Government Guaranteed Lending (GGL) team as a Business Development Officer.

Key Points:

HILTON HEAD ISLAND, S.C., Feb. 28, 2024 /PRNewswire/ -- Coastal States Bank ("CSB") has announced that Tyler Featherston has joined its Government Guaranteed Lending (GGL) team as a Business Development Officer.
Tyler, a seasoned SBA lender with experience in helping small businesses secure government lending for commercial real estate, business acquisitions and construction, will serve Colorado and the mountain region.
"Tyler will be a great addition to our GGL team here at Coastal States Bank.
As our team continues to grow, it's our priority to recruit the best bankers locally and nationally to serve our clients with experience and exceptional service," states Pete O'Hern, CSB's Managing Director of Government Guaranteed Lending.

Cambridge Savings Bank Hires Ryan Bailey as New President and Chief Executive Officer

Retrieved on:

Wednesday, February 14, 2024

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it has hired Ryan Bailey as the bank’s new president and chief executive officer (CEO).

Key Points:

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it has hired Ryan Bailey as the bank’s new president and chief executive officer (CEO).
View the full release here: https://www.businesswire.com/news/home/20240214352325/en/
Ryan Bailey has been named President and CEO of Cambridge Savings Bank.
(Photo: Business Wire)
Bailey was hired after the bank conducted a national search to succeed current president and CEO, Wayne Patenaude , who announced his plans to retire in 2023.
“Cambridge Savings Bank’s goal of improving and enriching the lives of our neighbors in the communities that our bank serves resonates with my relationship-driven approach to leadership,” said Bailey.

CSB Bancorp, Inc. Declares First Quarter Cash Dividend

Retrieved on:

Wednesday, February 7, 2024

Banking, Professional Services, Finance, Trust, Commercial, OTC Markets Group, CSB, Savings bank, Holding company

CSB Bancorp, Inc., (OTC Pink: CSBB) today announced that the Company’s Board of Directors has declared a first quarter cash dividend of $0.39 per share on its common stock, payable March 19, 2024, to shareholders of record as of March 5, 2024.

Key Points:

CSB Bancorp, Inc., (OTC Pink: CSBB) today announced that the Company’s Board of Directors has declared a first quarter cash dividend of $0.39 per share on its common stock, payable March 19, 2024, to shareholders of record as of March 5, 2024.
The dividend represents a $0.01 increase in the quarterly cash dividend.
CSB Bancorp, Inc. is a financial holding company headquartered in Millersburg, Ohio, with approximate assets of $1.2 billion as of December 31, 2023.
CSB is located on the web at http://www.csb1.com .

What drives banks’ credit standards? An analysis based on a large bank-firm panel

Retrieved on:

Wednesday, February 7, 2024

NPL, Seven Bank, Xi, Name, AnaCredit, Data, Bank, ECB, SAFE, JEL, Bias, Knowledge, XB, P50, Ciccarelli, Credit, Regression analysis, Shock, Central bank, Mand, E51, Movement, E44, SNL, Government, Access, Environment, Literature, P90, BLS, P25, CDS, Darst, Risk, European Central Bank, Bureau van Dijk, OBS, Probability, Complementarity, ROA, Policy, COVID-19, Research, Standard score, Uncertainty, R2, Heider, E52, Holmström, CSB, Health, P75

An analysis based on a large

Key Points:

An analysis based on a large
bank-firm panel
No 2902

Disclaimer: This paper should not be reported as representing the views of the European Central Bank
(ECB).
We find
that weaker capitalised banks adjust their credit standards more than healthier banks, especially for
firms with a higher default risk.
Here we find t hat w eaker b anks r espond m ore f orcefully by
tightening their credit standards more than better capitalised banks.
On the contrary, weaker banks
may be more prone to adopt looser credit standards, with the aim of increasing their revenues.
To answer these questions, we analyse the determinants of banks? credit standards, i.e., their internal
guidelines or loan approval criteria applied when deciding on granting credit.
2 Altavilla
ECB Working Paper Series No 2902

2

area banks tighten their credit standards more when linked to riskier firms, measured via firms? leverage
and default risk.
We assess how euro area banks adjusted their credit standards in response to
the negative COVID-19 pandemic shock, after accounting for government support measures.
When deciding on their credit standards, banks assess risks
based on both their own loss absorption capacity and the credit risk of their borrowers.
On the contrary,
weaker banks may be more prone to adopt looser credit standards, with the aim of increasing their
revenues.
We provide evidence that
euro area banks tighten their credit standards more when linked to riskier firms, measured via firms?
leverage and default risk based on the Altman Z-score.
In
addition, they focus on a different research question and use data from the IBLS only as a control.
ECB Working Paper Series No 2902
5

capital position implies less tightening of lending criteria, possibly reflecting the fact that banks can
afford to adjust their credit standards more moderately.
Based on our results, this implies a stronger deterioration of their lending conditions compared
with less vulnerable firms.
We assess how euro area banks adjusted their credit standards in response to
the negative COVID-19 pandemic shock, after accounting for government support measures.
This is in line with the role of government support
measures such as loan guarantees mitigating banks? exposure to firms? credit risks as they shield banks
from firms? increased credit risks.
2
Related literature

Our paper is closely related to studies analysing credit supply based on BLS indicators and the impact
of monetary policy shocks on bank lending conditions in the euro area.
Hempell and Kok (2010) disentangle
pure loan supply based on the BLS factors and investigate the role played by such factors for loan growth.
Several other studies link confidential individual BLS data with actual bank-level data, but not firm
data, allowing an analysis of bank characteristics relevant for bank lending conditions.
They find that a short-term interest rate shock decreases both loan supply
and demand, but more for less healthy banks.
Their findings are consistent with the results of our paper on the favourable impact of bank health on lending standards.
Both papers tend to find no evidence of higher risk taking of banks as a result
of accommodative monetary policy.
More recent studies are based on
confidential bank and firm-level data from national credit registers.
(2012) who focus on the bank-firm-relationship in Spain, based on credit register data.
Ferrero, Nobili, and Sene (2019) arrive at a corresponding conclusion on the risk-taking
channel based on a confidential loan-level dataset of Italian banks.
In another paper, Altavilla, Boucinha, and Bouscasse (2022)
disentangle credit demand and supply based on euro area credit register data (AnaCredit) for the period
of the pandemic.
Our results emphasise the
mitigating impact of government guarantees on a tightening of credit standards during the pandemic.
This mitigating impact played a major role in loan demand and not credit supply being decisive for lending volumes during the pandemic.
Based on their model, accommodative monetary policy is part of the optimal policy mix, combined with social insurance.
To keep the wealth of information
available in the BLS, we run our analysis at the quarterly frequency of the survey.
of employees
101.4

2456.9

2.0

4.0

12.0

37.0

116.0

14944589

Panel (a): Banks
Credit standards

Loan loss provisions
Panel (b): Firms

Notes: Descriptive statistics for the bank-firm sample included in the regression analysis.
Specifically, a one
standard deviation increase in the CET1 ratio leads to 0.2 standard deviations lower credit standards,
i.e., easier credit standards.
In their lending decisions, banks assess risks based on both their own
loss absorption capacity and the credit risk of their borrowers.
?Credit supply and monetary policy: Identifying the bank balance-sheet channel with loan applications.? American Economic
Review 102 (5):2301?2326.
?Hazardous times for monetary policy: What do twenty-three million bank loans say
about the effects of monetary policy on credit risk-taking?? Econometrica 82 (2):463?505.
?The credit cycle and the business cycle: new findings using
the loan officer opinion survey.? Journal of Money, Credit and Banking 38 (6):1575?1597.
guarantees: proxy from BLS, bank level
0

.1

.2

.3

.4

Government guarantees exposure

-.5

-.25

0

.25

.5

Government guarantees exposure

Notes: Based on results from columns (3) and (6) of Table 4.

Cambridge Savings Bank Supports Acquisition of Melrose Affordable Housing Corporation’s New Property with Strategic Lending Package

Retrieved on:

Thursday, February 1, 2024

Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Banking, Partnership, Homelessness, Housing, Wealth, CSB, Savings bank, ROC, Acquisition, Treasury management, Face, Bank

The MAHC is a local nonprofit organization committed to establishing safe and affordable housing options for low- and moderate-income individuals who desire to live in Melrose.

Key Points:

The MAHC is a local nonprofit organization committed to establishing safe and affordable housing options for low- and moderate-income individuals who desire to live in Melrose.
“Cambridge Savings Bank’s intimate familiarity with Melrose and the needs of its residents made a significant difference throughout the process of acquiring our most recent affordable housing property,” said Steve Anderson, President of Melrose Affordable Housing Corporation.
“The Melrose Affordable Housing Corporation is doing important work by advocating for and taking action to support disadvantaged individuals and families in Melrose.
The bank also recently donated to Cambridge Housing Authority and Caritas Communities to support programs focused on combating homelessness in Boston.